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Figure 3.5.2 Refer to Figure 3.5.2, which shows the market for beans, cur...

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A graph plots quantity versus price.A line D sub 2 passes through lines S sub 2, S sub 0, and S sub 1 at points 4, 3, and 2, respectively. A line D sub 0 passes through lines S sub 2, S sub 0, and S sub 1 at points 6, 1, and 5, respectively. A line D sub 1 passes through lines S sub 2, S sub 0, and S sub 1 at points 9, 8, and 7, respectively.

Figure 3.5.2

Refer to Figure 3.5.2, which shows the market for beans, currently at point 1. If the price of peas, a substitute for beans, rises, and the cost of producing beans decreases, what is the new market equilibrium?

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